OTC traders: how to trade USDT safely and where the pitfalls are

OTC traders are essentially middlemen between you and the exchange. They buy/sell USDT for cash or bank transfers, bypassing official channels. It sounds convenient, but the devil is in the details.

The main risks that are not talked about

Legal: In several countries, this may be quasi-legal. Large transaction = suspicion of money laundering = frozen account. Check the laws of your country before your first transaction.

Scammers everywhere: Fake money, counterfeit transfer screenshots, “ghost traders”. Yes, platforms require verification, but it’s not a panacea. Some charge commissions or play on exchange rate differences.

Money may not return: The bank froze the account? The counterparty disappeared? It may take a long time to recover, or you may not receive anything at all. If the meeting is face-to-face, there is a risk of robbery or threats.

Data is leaking: Passport, contacts, transaction history — all of this can end up in the wrong hands.

How to minimize the risk (maximally)

1. Choose reputable platforms — look for traders with high ratings and community reviews.
2. Split your trades — instead of one large trade, make several smaller ones.
3. Trading in crowded places — no parks or basements, only monitored public spaces
4. Check the money immediately — make sure that the funds have arrived and cannot be recalled.
5. Know the law — familiarize yourself with the regulations of crypto trading in your country
6. Use escrow services — some platforms offer escrow.

Moral: OTC is convenient, but 100% security does not exist. Stay cautious and sober.